Which of the following statements holds true for the sight draft?
A)The sight draft is paid on the receipt of the goods by the importer.
B)The sight draft is payable typically 30, 60, 90, or 120 days in the future as specified by the draft.
C)The sight draft is paid on receipt of the draft (when it is "seen").
D)The sight draft is paid in advance immediately after the order is made to the exporter and before the export of the ordered goods.
E)The sight draft is paid after a period of exactly one year after the delivery has been made to the importer.

Question

Quizplus · Accepted Answer

The sight draft is paid on receipt of the draft, which means it is paid when it is presented or "seen" by the payer, not based on the delivery of goods, a future date, or any advance payment scenario.

Which of the Following Statements Holds True for the Sight